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forward hearing from both men later in the program. as for the deal itself, if you're a new york stock exchange shareholder, mr. spreker built this account the past decade. 36% of the combined company will be controlled by current new york stock exchange shareholders. you get a premium. also an opportunity to participate in the continued growth of what will be a trading ba he months. they trade stocks. energy, interest rates, commodities, agriculture, that's what it's bat. global platform for the trading in so many different asset classes, particularly as it relates to derivatives, putting these two companies together this way. cost synergy is very important. $450 million what they are looking for. say that will take place after the second full year, realizing all of them but almost 80% within two years of closing. that's related to technology savings. clearing duplicate expenses, one public company instead of two save money. there are going to be some job losses one would anticipate here as well. women see how ice shares do today, of course, a growth company, so in growth shareholder
, that was interesting. new york values went up as well. lori: markets are scattered. that is a debate over what the fines wealth in america, cost of living, property values, you can't have one single threshold the works across the board because -- lori: bringing it back to taxes. melissa: i love it. lori: and $8 billion deal, what does it mean for the future of trading? charlie gasparino will be along with exclusive details. melissa: look at how the dollar is fairing, the market up slightly and with that, currencies are weaker across the board. we will be right back. melissa: we want to take you to capitol hill, john boehner. >> the president called on the house again and again to pass a bill to protect 98% of the american people from a tax hike. today we will do better than that. our bill will protect 99.81% of the american people from an increase in taxes. it is permanent tax relief for individuals. a permanent hatch on the alternative minimum tax, the marriage penalty, death tax relief and permanent extension of higher child tax credit and capital gains and dividends rates we see today. all
school is the highest paid in the country. that is right here in new york city at more than $3 million. >>> national hockey league is canceling its regular season through december 30th, i know, due to lack of collective bargaining agreement. 526 games, more than 40% of the season has been canceled. that unfortunately is that [buzzer] that is end of today's speed read. liz: it is disgusting. it is horrifying. we don't seem to be any closer to a resolution on the fiscal cliff even though many are warning that the economy could face dire consequences if there is no agreement but one strategist says, why are you worrying about december 31st? that deadline isn't even the real fiscal cliff. david: that strategist is none other than peter schiff, ceo of europacific precious metals. friend of the show. peter, although i wish it was under better circumstances. you say the real cliff coming is bigger han the housing mess, bigger than the housing crisis we went through. it's the bond mess. specifically when the fed stops printing money to buy up treasurys all hell will break loose, right? >> wel
about what you put into your gas tank. let's get up to speed, back the floor of the new york stock exchange and nicole petallides. economic data on the service industry. nicole: looking good, lori and melissa. up 125 points. after two days of selling we are seeing some market action to the upside. we are above the 13,000 mark, well above that. 13,076. the nasdaq squeezing it out. concern for apple, but financials are doing well. let's take a look at the group. laying off 11,000 workers, that is the plan. a new ceo in place and he wants to make his mark. up 6.5%. it is under pressure, nowhere near $700 for the all-time high in september. the latest findings other actually going to use the market share for the ipad to the android in some microsoft folks, they're facing intense competition. with the findings you see stocks down 4%. back to you. melissa: interesting. lori: thank you. melissa: a battle for a deal inn the fiscal cliff continues, democrats cannot seem to find a compromise on top earners. rich edson is back in the white house with more. >> president obama said look, if rep
. let's go to the floor of the new york stock exchange. the market having a good day today. nicole: indeed. we have been over the 13,300 mark but still holding onto stellar games, lori and melissa. so up triple digits up 110 points so really is a nice showing. 28 of the 30 dow components in the green. we heard from house speaker john boehner. the overall sentiment after he spoke is a few negative pieces of language in his speech that ultimately in the end he was trying to say they're trying to work it out. smooth it over, ultimately. they know a couple of trends we are seeing, technology, materiall, two areas coming under pressure recently starting to turn. europe seeing improvement helping equities along as well. lori: not sure if you mentioned the fed. we were talking about it at the top. talking about their expectations of ben bernanke. nicole: would even throw out the idea of stimulus? that helped things along pushing us along throughout this entire last six months. lori: absolutely. thank you so much, nicole petallides on the floor of the new york stock exchange. protests turn
of jet lag. >> we'll take you a week. >>> "morning joe" starts right now. ♪ >>> nation, i love new york city. the big apple, the city that never sleeps, rat zanadu. so i was crushed to learn the metropolis i know and love has changed. >> not one person was murdered in new york city on monday. nypd deputy commissioner paul brown couldn't even remember the last time a day went by where not one person was shot, stabbed, or slashed. >> what happened? i remember the real new york of the '80s. when in a single night you could score some weed, catch a time square porno and get stabbed in the neck by a coked up lou reid. and that was a pretty good first date. now time square has become a bubba gump wimp company. >>> good morning. it's tuesday. december 4th. welcome to "morning joe." with us onset, we have msnbc senior political analyst mark haleprin. oh, my god, please stop. just get it off. get it off -- >> pulitzer prize-winning historian jon meacham. "the art of power." >> so you know why i'm doing this. last night, mika goes to madison square garden thinking she's going to see one direction
the jeffries trading floor today in new york. peter, you have a lot of different scenarios, but the most likely scenario that you think is that the blackberry fails, there is no acquisition on this and the cash firm continues? >> yeah. we think it costs about $1 billion to launch these devices. if successful, we think an access possibility goes up. if not, we see the company become much, much smaller a year from now. >> how do you measure success? and when we we know on this? >> we'll probably know around around/may next year. success would be call it 3 to 5 million units in the first quarter out of the gate and 5 million units plus after that. to us, that would be a very good launch. >> for anybody who is actually a blackberry user still, what do you say about these things? if there's a takeover, does that mean blackberry continues? what's the long-term outlook for the company? >> i would suspect that if you're a blackberry user, there's very little chance that your service is going to be cut off. that is a key cash flow driver for the company and anybody who would want to buy isn't concerned
of agriculture decision to cut the greens demand forecast. fact activity in new york state declining for the fifth month in a row in december as new orders dropped in the labor market remains weak. the new york fed empire state index falling into negative 8.1 from negative 5.2 in november. liz: we have larry in the pits of the chicago mercantile exchange. he will let us know about the clothes. the fiscal deal is coming. they will find out in a second, and says the market is heavily discounted and at historic levels. should you jump in? a 100-point gain on the dow jones industrial a full percentage point for the russell and the s&p and the nasdaq rather. this is a great day, isn't it? >> a good day, that is for sure. kind of took an informal poll on the floor ask a few traders are we going to reach the fiscal cliff, are we going over it? certainly most traders were not in agreement. everyone is in agreement we're not going to go over the fiscal cliff. liz: the highest of the session of the last hours of trading, what does that tell us about the next couple of days? >> traders have con
an exchange like the nasdaq or the new york stock exchange tries to make any kind of merger or acquisition, it's usually rejected lately. >> well, i think what we've looked at is bringing together canada's financial markets under one institution so we can really have a very strong market. now, there are competitors. we have alternative trading systems that are owned and operated by other entities, and a low barrier to entry for new organizations to come to canada. but the reality is that we think we offer the most comprehensive services. david: let's talk about how our regulations might affect your companies. dodd-frank is going to have worldwide implications. >> well, dodd-frank's really important to us. in fact, i've spent personally a lot of time in washington over the last year as dodd-frank -- david: did they accept your input? >> for sure. the cftc, in particular. it impacts us in important ways because as our institutions execute interest rate swaps, they're going to have to be bilaterally cleared. or multilaterally cleared oz opposed to -- as opposed to bilaterally. and that's importan
in the air. atlanta will have delays. as the system moves east on the weekend, even new york and boston will have delays from this storm. and then we'll talk about the west when we get back with the rest of the weather. it is a messy next couple of days. >> real sloppy. sam, thanks very much. >>> we'll get the latest on that fiscal cliff. down to 12 days before everyone's taxes go up and every government program is cut. and that is a little more likely this morning, with private talks frozen and both sides blaming each other for the breakdown. abc's jonathan karl has all this from washington. all of the focus on speaker john boehner's fallback plan, what he is calling plan "b." >> reporter: that's right, george. talks have got son low, i would say this is the low point, that boehner is moving ahead with the backup plan that the president so opposes, he says he will veto. under plan "b" most of the tax cuts will be extended for those making over $1 million. for those over $1 million, the tax rates would go up. this could do nothing to address the issues. like spending cuts and the debt c
in los angeles thanks. >>> hundreds of volunteers who you are ared to new york after superstorm sandy are settling into their home away from home. when they are not helping with recovery efforts they are recouperating on the uss wright. it is equiped with sleeping quarters and a common area. anna is live with an inside look. >> hello everybody at home. finding space for the thousands of volunteers who stepped up in the aftermath of superstorm sandy has proven to be a tall order. that's where this ship comes in, the ss wright. it is now home away from home for a couple hundred volunteers from the american red cross and fema core. they are staying together and eating together and playing games and watching sports together, yet it is in patriotic living quarters. and they are manning the 27 disaster recovery centers set up in the tri-state area. many are young and even just right out of high school. it is an interesting dynamic as many of the red cross volunteers are older. retired health care workers. it can be trying. being around storm victims and devastation at times is emotionally e
and new england as well and in the big town of new york city. too shy ofg. 10 shy in maine . portions of the northern plains. there goes my ride . 50s in dixie land and portions of the gulf coast. i am glad you asked. next map shows you on thursday. almost 60 in kansasy city. temperatures in the cents in texas and gulf coast down through florida. 42 will be the high temperature here in new york city. smeeking of new york city. live on our plasa. we did this last year and they are back again. say hello to reverend rob shank with faith and action. we have a live nativity scene. >> you do. it is the same one that played out in front of the united states can supreme court. we are sending a powerful message to washington d.c. and doing it here in new york. >> steve: what are the thrings. >> how was the reception. >> it was very good. people streamed out of all of the federal buildings and we get idea that supreme court justices get a glimpse of we have stantial rights and that includes faith and freedom of speech and assembly. while this is the real reason for the season, we have to exerci
really to blame? a new survey says no. stocks a little bit higher. as coach before the new york stock exchange and check in with nicole watching apple after cher started to downgrade today. nicole: that is right. apple sold off, in the red and move higher. they have a buy rating, jefferies cut the price target on apple. the new price target is $800 from $900. they came down $100 but certainly plenty of upside potential. right now apple at $5.29 and change. some nice room to grow. talking about the pressure on margins apple faces obviously intense competition but also the fact they will be launching a new iphone app coming along, all the thing these things we'rg about for next year and those to make it into their margins to alternately that is whether lord their price target. mcdonald's, same-store sales moved higher and beat the analyst expectations of 2.4%, that obviously outpaced october which is a losing month, first losing month in nine years for mcdonald's, but they're doing well for breakfast and in europe. lori: thank you as always. melissa: president obama had to try to seekin
-- dagen: this is the 24th state. >> it will never happen in new york or a place like new jersey. they do not have the legislatures that will pass this. let's be realistic about it. all you have to do is look at a map of america and you would understand that. there are limits as to how far it will spread. we have a really historic battle among the states. it is a battle over tax rates. for all of this talk about tax increases, you have places like kansas, wisconsin, louisiana, cutting taxes. because business investment is so stingy right now, this battle is really historic. i think we will see more winners in the states. dagen: right to work states over the last decade have grown faster. >> it is and important component. it will be more so, i think, going forward. the combination, state tax rates in federal tax rates, they are really getting onerous. connell: as peter barnes pointed out, how involved, or will he get involved in this at all going forward? >> well, your guess is as good as mine. here is the thing, you know, of all places that you can go in america, discussing the fiscal cli
for the amtrak program that's never been done. what is going on here? the people in new york who are still suffering need direct assistance. none of this is direct assistance. >> hello, larry. of course what's going on is business as usual here in washington. listen, i think there's bipartisan support to realize that this is emergency. we want to get money flowing to the people that need it. but let's get some information. let's not create a christmas tree here and load it up with all kinds of different ornaments. let's take a look at what the true need is, short term and then longer term. and let's do this in a measured fashion. so from my standpoint, i think it makes an awful lot of sense. we've got nine months left till fiscal year 2013. that's kind of the line of demarcation. we should be looking at what needs to be appropriated for the rest of fiscal year 2013. and then, you know, how about we pass a budget for fiscal year 2014 where we can consider the rest of the spending in a proper format where we're actually getting the information on how this thing really should be spent. >> i'm
of the new york stock exchange. nicole: it really is a time to shop. let's take a look at the major market averages. the tech heavy nasdaq is squeezing out some games. it is up about five points. some other traders talking talking about the fact that yesterday they got a lot of monetary policy. then they start to get economic news of things the a little bit better. they have to digest each piece of economic news. there is a look at the dow. 13,237. it is down about eight points. let's talk about best buys. from 1956, that is when he founded best buy. he is moving ahead. it could be by the end of the week. it is up 15.5%. connell: a news alert from washington. you will see it here live from d.c. as we wait for the speaker, we will hear from a guy who says >> whatever god deal is signed, there will be a lot of pressure. boehner will have to cut a deal that raises taxes. their idea of fiscal conservatism, for two decades, has only been about taxes. meanwhile, under current sentiment, underneath him, why don't you finally go after spending. those tea party people will be completely hostile to
-kahn has settled a civil suit filed by a new york city hotel maid accuwho accused him various items. criminal charges against him were dropped. >>> the state of hawaii is no longer 50th in voter turnout. it's tied for 49th with west virginia. this time around, they've got company at the bottom. both west virginia and hawaii tenned out 44.2% of its voters in 2012. >>> the duke of cambridge decided to cancel a scheduled appearance at a military event to be with his pregnant wife. katherine has been battling acute morning sickness. they are supposeded to attend the royal premiere of "the hobbit" tomorrow but the daily mail says katherine may not be well enough to go. >> if he skips the hobbit for her, that is true love. i'll be impressed. >> thank you. 17 minutes past the hour. time for early reads, local news making national headlines. we're starting with the charlotte news and observer in north carolina where a federal judge ruled the state cannot issue choose life license plates without offering ones with different view points. he called it viewpoint discrimination and violation of
minutes, let's had before the new york stock exchange, nicole petallides standing by. down 13. nicole: this is one of those markets with a lot of anticipation. every focuses on the fiscal cliff. tomorrow is the all-important jobs report for a lot of folks have been hearing more economic news which has been more dismal lately. talk about more layoffs they have seen in november. right now the market is not too far off the unchanged line. the acidity holding 1400. the tech of the nasdaq still below 3000. today apple is now moving into the green and that is one of the reasons why it is holding on to a quarter percent gain. apple $700, 705 in september traded as low as 518 today. certainly has been under significant pressure, however people use that as a buying opportunity which is evidenced in the two-day chart. with the fiscal cliff fast approaching, naturally it's about time lawmakers took a long recess. >> they're gone today, but will be back tuesday. it meets with small businesses in their district, they will highlight what they say i see ae small business tax hike president obama is
-laundering probe from the transfer of billions of dollars. the u.s. attorney for the eastern district of new york. >> the european and middle eastern entities routinely do business with countries on the u.s. sanctions list. they then funneled hundreds of millions of dollars of transactions through the united states through hsbc there. be evading u.s. prohibition on such transactions by disguising the force of the fund so payments could go for a. hsbc has admitted its guilt to the four count information filed today which sets forth two violations of the bank secrecy act, violation of the international emergency economic powers act and violation of the trading with the enemy act. as part of its resolution of these charges hsbc has agreed $1,256,000,000, the largest amount ever by a financial institution for compliance failure. they also agreed to pay civil penalties of $665 million to resolve parallel regulatory actions brought by the office of the comptroller of currency and the federal reserve bank for a total recovery of over $1.9 billion. the resolution also requires hsbc to implement a series
him. >> thank you, david. david: many folks in new york and new jersey, still, still can not go back to homes and businesses. so why is the sandy spending bill send lots of money to d.c.? a look what is in the $60 billion bill for hurricane sandy. liz: money to d.c. but it hit new jersey and new york. come on people. david: there you go. liz: how is this for an alternative investment? the judy garland show. rights to all the episodes. 26 are up for auctions online. how much are they expected to fetch? what is the earning potential here? we've got the man selling them. do you want in? remember what it did for elvis >> just about 42 after the hour. i'm arthel neville. this is update on breaking news story out of newtown, connecticut, where 26 people including 20 children are dead in one of the worst mass murders in our nation's history. president obama deliver ad statement last hour saying the u.s. has been through shootings like this too many times and meaningful action will have to be taken regardless of politics. the president also ordered the u.s. flag be flown at half-staff at all
. it is back to the floor of the new york stock exchange. nicole petallides, you know, we've got the fiscal cliff negotiations and big jobs numbers due out toward the end of the week, nicole. i wonder if investors are in kind of a wait and see mode here? >> absolutely. the jobs number is at the end of the week, right? is arguably the most important economic indicator. a lot of folks are very concerned about the economy with very moderate growth that we've seen at best. unemployment still remains really very high and so that is something that still sits on the minds of investors. i wanted to also talk about the fiscal cliff and how a lot of companies are speeding up those dividend payouts like oracle and carnival cruise and weight watchers and ethan allen just to name a few. it is easily over 110 companies have done just exactly that, accelerated the dividend payouts to be at the end of the december rather than early january. in which case you might be more susceptible to higher tax rate. these are some of the names. coach. diner shoe warehouse and larry ellison with his company. oracle's el
daylight, on a crowded new york sidewalk, someone walks up to a man and shoots him, point blank range. today, a race for answers. i'm brooke baldwin. the news is now. >>> move over, america. a sobering new report suggests china is getting ready to surpass the u.s. economy. >>> plus -- >> this is the place where lisa was buried. >> cnn goes inside the search for da vinci's famous muse. ♪ ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now through december 31st. [ santa ] ho, ho, ho! [ male announcer ] lease a 2013 e350 for $579 a month at your local mercedes-benz dealer. [ sniffs ] i took dayquil but my nose is still runny. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome. [ male announcer ] yes, it is. that's the cold truth! since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations thr
'm melissa lee live from the new york stock exchange. negative across the board, looks like we're going to lose about 8.5% on the dow. we're watching for headlines out of an ecd press report. our road map this morning starting with apple, cratering on its biggest decline yesterday on four years, closing just pennies off the lows of the session. the stock continues lower premarket as investors watch the death cross watch. >> a cnbc exclusive, tim geithner says over the cliff is a must. >> bank of england and ecb keeps rates unchanged. europe continues to hang in there economically. >> and nat gas gets a boost. the government finds exporting it is better than keeping it here at home. >> apple as we mentioned in the spotlight today, shares of the tech giant coming off their worst day in four years, sliding back into bear market territory. the one day loss erased nearly $35 billion in market cap. that chunk is bigger than 400 other s&p 500 companies. apple ceo tim cook talked to nbc's brian williams in our rock center exclusive. >> why can't you be a made in america company? >> you know, th
: breaking news on dupont, back to nicole on the floor of the new york stock exchange. >> breaking news that's pushing the stock up 3% after hours. this is where it closed today at 4 p.m.. this is dupon here. closing up 1% at 43.69, but as i noted, moving up in the after hours. unvailing a $1 billion share buyback, also giving us guidance here going into 2013, and talking about growth and this is looking good here, folks, and this is why we are seeing this dow component, this chemical maker, liz and dave, moveing to the upside dramatically. it's breaking news, and as we noted, announcing a share buy back of the company stock, something that they talk about, the fourth quarter performance, expected at the high end of the previous guidance. this is basically saying dupont saying, we're doing great, giving nice numbers here, and as a result, the stock's jumping. back to you. liz: thank you, nicole, very much. david: s&p futures closing now, back to lair at the cme. what do you think? >> what i sense is an interesting fact behind me, closing exactly where we were right before the election, and w
the people in new jersey and new york are not left high and drive. because it's a national issue. when there's an emergency, we just don't all say, everybody on their own. which is often your theory. no, everybody in this country isn't always on their own. we are a national community. and when there's a tragedy, when there's some kind of event in new jersey, new york, we all have a responsibility, accountability. don't use that as a dodge for saying, let's act. the auto industry would have been on its -- just destroyed. >> about 1.5 million jobs, i might add. >> absolutely. and we had accountability there. >> let me get a word in here. i know you want to dominate the conversation -- >> no, i want you to get to the point. >> we now agree there should be additional language in the legislation to have accountability. that is a great point. so far there wasn't that accountability when you voted in the past on a bailout to states in this area. it's good that we moved that point. i look forward to working with you to provide that accountability. >> there was accountability in terms of help for gm
an apartment, it was not that valuable. >> it's not practical for a new york city dweller, for instance. >> when you get houses, you see the mexican properties? i'm saying they're going up there. >> oh, really? >> yeah. if anybody wants one. >> available for weekend rental. >> semiautomatic weapon included. >> somebody stole it from me, he thought i was going to stop there, and let hem get away with it, and that's not really my style. >> would you kidnap jim cramer, david? i'm not sure. >> no. >> it would end there. >> it never ends. >> if the guy had done nothing, i would have said fib. but i found him -- no one has seen "taken 2." >> how could you not? what a great franchise. >> i know. >> she's been taken. >> really bad luck. >> when we come back, apple tv, microsoft surface tablets, we'll bring you the latest development regarding both of those. more from the deal book conference in manhattan, including an exclusive with lloyd feinstein. 11:00 a.m. eastern time. hanging on to gains. at the nyse, when we return. can i help you? i heard you guys can ship ground for less than the ups s
, and for a 30-day free trial, go to axiron.com. >> shepard: big break here in new york city where police say they've found the car that a killer used to make his escape after shooting a man in the head. that shooting happened broad daylight monday afternoon right near central park in carnegie hall. police say surveillance video shows the gunman getting out of his car to wait for his target, a man named brandon wood d has rd. he was visiting from los angeles and minutes later, the killer walked right up to the man on the right here, and put a bullet in his head. police say they don't yet know the motive for this murder. while they located the get away car across the river in queens, the killer is still on the loose. >>> most americans say our leaders will keep us from falling off the fiscal cliff 20 days from now. that's according to a news pal. 51% say president obama and congress will cut a deal to prevent automatic tax hikes and spending cuts. john boehner says he still has serious differences with the president after they exchanged new counteroffers apparently and talked on the phone last
steve israel, congressman from new york. plus, we'll also be talking more about what's at stake in washington and how the fiscal cliff is likely to effect investment decisions. we have value investor leon cooperman, he's going to join us on set starting at 7:00 eastern time. then at 8:00 eastern, we have black op co-founder and ceo ralph schlosstein. and lynn hutchins will join us. we'll talk about what they see playing out and what they think is working when it comes to the markets now. >> the bill that the president says is in the house that he will sign if -- that's in the senate -- >> the senate. >> the senate that he will sign if the house passes it is what? >> that is $. >> -- that is 250? >> 250? >> he said 400. he said, i have the pen, let's keep tax rates where they are for everyone at 250 and below. so this one, that's c these guys are pretty clever because that would keep rates where they are for everyone at a million and below. no middle-class taxpayers up to a million dollars -- >> that's no matter what, isn't it, in either bill? >>yon r -- i think it would be the s
'm bill griffith. welcome to "closing bell." maria will be along here in a few minutes at the new york stock exchange, and we add our sentiments as we continue to update you on the horrific massacre at the connecticut elementary school. our deepest prayers and sympathies to all of the families and others hit by this senseless tragedy. the horror of the story may have muted trading on wall street today, as all priorities are being rearranged in a moment, and we will get you caught up on these markets in just a moment, but first we want to let you know. president obama is set to make a statement on this tragedy from the white house around 3:15 eastern. our john harwood is in washington with some more details on what we know right now. john? >> reporter: well, bill, the horror of this tragedy is also muted talk of anything else in washington for the day, including the fiscal cliff and all the issues that we've been discussing for some time now, but one of the jobs of a president is to console victims and to console the nation at a time of grief of this magnitude, so we're going to hear fr
'm maria bartiromo at the new york stock exchange. scott, good to see you. here with scott wapner. the market near the lows on the day on fears that a deal to avoid the fiscal cliff may actually be a lot further away than we thought. >> more sparring today. deal, i don't know. if you listen to what they are saying today, scott wapner in for bill griffith. the president calling for compromise in a news conference today, but here on wall street there is a bit less optimism for the deal than we've felt in recent days. see where we sit right now. the dow is down 56 points. nasdaq and s&p under some pressure as well right now as we -- there you go. nasdaq is down six and the s&p, maria, selling off as well. >> mr. jobs, more jabs being exchanged on capitol hill today. what was supposed to be a presidential press conference on gun control quickly transformed into a discussion about the fiscal cliff. with the majority of questions focusing on the issue. washington correspondent john harwood at the white house right now. john, perhaps no one has followed the twists and turns as much as yo
. paul krugerman has said liberal firebrand in the "new york times" said it's a horrible idea. terrible, stupid idea and this is not something that the white house should consider at all. >> let's bring back the rest of the panel. ceo of pimco, and mark zandy a is a chief economist with moody's analytics. mark, when you say we're the cleanest dirty shirts, i wonder when it comes to negotiations we are there are republicans who will not accept taxing the marginal income. the income above $1 million and increasing that tax on the rich and you've got some democrats who won't agree to this idea of a chained cpi. bottom line mohammed, there are going to have to be tough decisions, you cannot win budget concessions without tough decisions. when you guys are looking at how the united states solves its problems, what are the obvious ways? >> the obvious way is to get together and recognize that you can only solve a long-term debt issues in the context of high growth. you approach the fiscal problem in a way that makes sure that you also promote economic growth. so that has two implications. one
like new york, like london has, have congestion pricing so it's not a free good. make people who use the car pay for it and tilt the balance of our infrastructure funding using some of those funds to rebuild our public transit infrastructure. as you know, i've traveled into new york all the time and travel into canada all the time. my wife always reminds me to difference of traveling into pearson airport versus the new york, our greatest city in the world, airports. we've got to put a little more money. we know airplanes according to a whole range of recent studies are big economic generators. act on the same plane as our high-tech industry clusters. we need to rebuild our airports, invest in our public transit as well as keeping our roads going. but let's pay for the roads. >> ken, i see you nodding. do you think there are some things that rank higher than other things or should this be done as a portfolio, that there are a lot of things that need to be fixed? richard made a reference to the $2 trillion number to get our infrastructure on a national level up to a reliable point. >>
of daylight. that's the forecast for today as we get toward new york. high around 43 degrees. buffalo up to around 38. boston, high of 40. into the midwest, we're warming up a little bit here around chicago. we've got temperatures working into the 40s today. 51 in st. louis. 38 in minneapolis. that's going to feel nice after a couple of days in the teens. here's the preview for the next storm. this arrives for saturday. mostly rain. snow across minnesota. northern wisconsin doesn't look like a major event. but for some of the ski areas, new york state up into new england, sunday, this could be a good-looking forecast. maybe some snow here. looks like rain down the city toward washington, d.c. too warm for snow out of this one. stay tuned. next wednesday, guys, could be talking about a nor'easter, it's been a while since we've seen one of those. >> oh, no. >> just want snow. it's not -- correct me if i'm wrong because i've been wrong, it's not winter yet, is it? i'm afraid to say how many days it is because i'll mess up the math. it's not winter yet. we -- >> it's technical. in weather wo
never failed to get their money. but they're trying to put in a -- according to "the new york times," at least, a deposit guarantee system as well for the banking system. >> sounds like all systems go there. >> we'll see if this continues next week. meantime, we'll talk apple debuting the iphone 5 in china today. the iphone news isn't preventing apple shares from falling in the market. cutting the price target to $700 from $780. he does maintain a buy rating and said apple needs to expand more geographically. it's not dead, it's not -- but it needs to find ways to innovate its products. we sort of saw this coming. steve had a caution note on apple a few weeks ago which stalled the stocks. not entirely a surprise. he is obviously a well respected analyst on the street. >> when you have a price target that is well above the stock, there's tremendous pressure for you to cut the price target. like there was tremendous pressure to raise the price target. i want to warn people, there are people who have much higher price targets. the analysts will probably join the fray. not sit in the bu
the audience what we're talking about. >> the front page article on the "new york times" is titled bribery aisle. it's about walmart and the mechanics cal can business that was aggressive and creative and a corrupter offering large payoffs to get what the law otherwise prohibited. the times reports that the retailer wanted to build a store in an alfalfa field in a town's main entrance which was barely a mile from some ancient pyramids. the town's elected leaders had prevented the new zoning map that would have prevented it. walmart officials decided to undo the damage by a well played bribe and the guy drawing the map drew it a little differently. >> that's exactly what happened. they found the old map and the new map. they found a disk in a shoe box showing the differences. it was incredible. >> the zoning map would not become law until it was published in a government newspaper, so walmart reportedly arranged to bribe an official to change the map before it was sent to the newspaper. walmart issued a statement saying the allegations are part of that company's ongoing investigation of the
in with nicole on the floor of the new york stock exchange. wall street optimistic for fiscal cliff deal? nicole: that is right, as a deal gets closer and closer, the sentiment is it gets done at least partially in some way shape or form. talking to the traders, that is what they say the market is telling you. positive results out of washington have been priced into this market. the dow jones industrials dropped nearly 1%. the nasdaq up 1.4%. a look at the dow jones intraday with a majority of the dow components all into the green, names like bank of america leading the way, oil services all doing well, and talking with equity partners and said why does it pop right now if they think the fiscal cliff talks come to fruition. he said people are chasing. some people taking short-term profits, but altman o alternatee are still believers in a santa claus rally and the fact washington will get it right. melissa: nicole, thank you very much. proposals to avert the fiscal cliff coming fast and furious right now. we want to get you up to speed on where every proposal stands. for the first time the presid
standing by at the new york stock exchange. nicole: i am looking at avon products. you may remember coty which made a bid and then made a sweetened offer and avon rejected it. now it is up 5%. it is a top performer on the s&p 500. alpha is now reporting that coty may step in again. this was back in may when they raised their bid to 24.75. it sounds pretty good when you are trading at $14. we will see what actually transpires. right now, we may be seeing coty stepping in once again. cheryl: nicole petallides, thank you very much. should the u.s. start exporting natural gas? with the benefits the overall worth it? liz claman talk to a man at the forefront of this. andrew liveris. liz: let's go all in. the report makes a bold prediction. it will boost the u.s. economy $547 billion in just seven years and create jobs, which, of course, we desperately need. >> one report does not make a plan. it is fundamentally flawed. $90 billion at $3 million actually 20 times value that would be under threat if they went ahead and took the recommendations of this report. it ignores the manufacturing secto
of people who feel like doug cast does who writes with me with a piece in "the new york times" saying that -- >> most stuff is nontaxable accounts any way. most stocks that people won't be as motivated to sell as people think. of course that doesn't necessarily deal with the increase in payroll taxes and the whole recession side of it. it does deal with the stock market side in terms of selling. >> why not say, listen, fiscal cliff, i have to cut numbers. i have to cut guidance. i think many ceos will cut guidance because of the possibility that the amt is going to -- this alternative minimum tax, people don't know they have to write a check for $3,500 at the end of the year. once you jump over the cliff, you can reverse the payroll tax. senator corker who is terrific and had good privilege of talking with him this weekend, we both know you can't reverse amt. once you go over the cliff, amt is insidious. it's hard to figure out. >> in terms of negotiations we will sit here day after day, is it more theatrics, are they really stalled, will we get down to something at the end of the day
. welcome to "squawk on the street." we're here at the new york stock exchange. let's get a check on how we're setting up for the first trading session of the week. we certainly have a lot to chew on over the weekend with the sunday talk shows, focusing on the fiscal cliff. it looks like we're looking at a lower open for the dow. as for the action in europe, really, the action focuses on italy where there's an impending political regime change. more on that in just a moment. the road map starts at the golden arches. mcdonald's blowing out expectations for november sales after the dismal drop in the month of october. hoping to fuel the rise, the bacon/onion/cheddar sandwich. >> there's one thing for certain, taxes on top earners are going up. >> turmoil in italy. berlusconi throws his hat in the ring. retail sales numbers out of china, hoping the economy is in fact on an upswing. >> apple, enthusiasm. jeffreys trimming its price target to 800 from 900, as apple shares do trade lower in the pre-market. we'll start with mcdonald's, posting better than expected november same-store sales, global
gallagher has more on that. >> reporter: it's a cash cow for new york city. $293 million in the past five years alone. the reason new york is being sued is the drivers think the i is rigging them. federal law says the yellow lights at intersections where the speed olympic is 30-mile-an-hour has to be at least 3 seconds long. trim a seth sent out to engineers. they checked out a dozen lights and found all of the yellow lights were too short. some of them up to a half second short. that half second resulting in tens of thousands of extra tickets. the new york department of transportation says there has been no substantiation that any red light cameras were improperly timed. triple aaa acknowledges their mini study is not enought to support this lawsuit but says there is nothing to support the city's claim that cameras save time. too short yellow lights guarantee lots of citations will be issues but does nothing to improve safety. there are 540 communities in this country that use these cameras. the highest fines right here in california, $480. and most of them are not running the red light.
you see this "new york times" piece? more support for boehner now than anytime in his speaker ship. is that's setting up for -- >> but it is social media and twitter allows to you see these things. >> sausage factory into the front of the kitchen. >> exactly. >> geithner didn't use the word marginal rates had to go up, just said rates. >> rates are already going up. there will be a tax increase to people making more than 250 anyway because of the health care law. so the idea that somehow they will get a freebie is just crazy. >> california at 52%, new york and other places -- >> when you add up all the state and local taxes. hawaii is above 50, as well. >> hawaii is worth it, though. >> california is not bad either. >> unless you need to drive somewhere. right? and don't have a helicopter. >> there's a reason the president takes a helicopter anywhere. you can't drive in d.c. sdl those a >> boston in the city can get like that. last night i was thinking in my mother was still alive, cincinnati versus here, she would see like ten cars an and go oh, i can't believe people -- if she ha
delays there. in vegas, miami and new york, minor to no delays whatsoever. that's the good news. very quickly, let's talk about the east coast. so far, so good. scattered showers on parts of the coast, but new york city expecting a high of 45 today. mostly sunny in the ohio valley, into parts of the northeast. still scattered showers in parts of south florida getting very close to the record, the yearly record of rainfall in miami. as we wrap it up, from fargo and on the other side of the river, expect snow showers. still balmy, beautiful showers in dallas. mostly sunny and 65. back to you. >> reynolds, thanks so much. thanks for flag along. >> you bet, guys. >>> americans want action when it comes to the fiscal cliff. john, you'll give us some of the highlights, but with what we've told them about what will happen if we go over, i guess we shouldn't be too shocked that they don't want to go over. we've basically said there could be a recession, there could be millions of job losses and everything else. so i guess we probably shouldn't be surprised by that. >> no, we shouldn't. they'v
to be optimistic worried that the heightened worry of others will help us. let's go to ct in new york. ct. >> caller: hey, big boo-yah to you, jim. i'm talking to you today. a couple weeks ago i was in pain. i was in the house of pain. today it's tough, and i'm talking now ♪ hallelujah so now tell me, am i staying with it or losing my mind? >> this is controversial because i'm just going to tell you the news. and the news is is that apparently sales are very good for it, okay? if sales are very good for it, the stock can go higher. i actually tried to dodge a very bad move and got people out. you can say well, listen, jim, why are you telling people to buy it now? i'm not. i'm just telling people that the news is positive. there's too many other stocks out there that i'm trying to help you with. i can read you the news. i don't have any other insight. let's go to jim in florida. jim. >> caller: big boo-yah from sunny brooksville, florida, jim. >> sweet. what's going on there, partner? >> caller: first thanks for what you do for us. >> thank you. thank you. >> caller: i have some real so
and taxpayers alike. sue herrera down on the floor of the new york exchange. sue. >> it's 12 days to go until america goes off that fiscal cliff. both sides, as you just mentioned, are still sniping at each other. that's one of the reasons why the dow is down slightly. president obama said he would veto the house republican plan b tax proposal designed to avert january 1st tax hikes. the house speaker, mr. boehner, responded by saying that that was irrational and bizarre. john harwood is at the white house to sort out all the latest. yesterday, john, they thought they were getting real close to a deal. it certainly doesn't sound that way today. >> sue, it does appear that they've hit a deadlock in negotiations. you saw the president in a fascinating news conference that he just had in the white house briefing room try to leverage the emotional power of the tragedy in newtown, connecticut, to try to put the pressure on republicans. he talked about them taking off their partisan war paint. he said he'd more than met them halfway in terms of spending cuts that he's offered, coming up in the inco
at the new york stock exchange with eyes on a possible energy takeover. >> reporter: i agree with you, liz. adam used to say a lot of cute things, the woman who loves the cleveland browns, little tidbits about liz claman. i enjoyed it too, adam, go back to that. [laughter] a hot stock to watch, and that's walter. when you look at walter energy, basically, we've been hearing that bhp billiton are said to be eyeing the coal producer, so this is according to british newspapers about whether or not anonymous sources are saying that bhp is stepping in. then there's others who are saying that it's glencore. everybody wants to take over walter industries, this is all, of course, just speculation that we're reading from the sources and on the wires, and that explains why you see this coal producer jumping 6%. big move for walter energy today, back to you. liz: nicole, suddenly the dow has doubled its gains, we were up about 14, 15 points, we're now up 31, 32. sandra, what are you looking at? >> i want to bring up an intraday chart, and while a 32-point gain isn't substantial, it is the highs of se
. >> in times of stress, this economy turns to the new york stock exchange. there is a reason there is an american flag wrapped around the front of this building. charlie: you are committed to the floor traders, keeping them here? >> absolutely. connell: charlie live now from the floor. pretty big day down there, obviously. charlie: i am blown away by this story. we were pretty much on this thing from the get go. this was on a merger. the initial reports coming out of the, i believe, "wall street journal." this is a 200-year-old institution being taken over by a company from atlanta that has been in business for the last 12 years. this is amazing. that is like the glass half empty or half full power. about another year ago, we were talking about, and a lot of people moaning about a german institution taking over the new york stock exchange. that says something about america's dominance in world finance. we are seeing an entrepreneurial company now taking over the stock exchange. that is not bad. that is what american capitalism is all about. that is something to be celebrating
? they are all coming together right now. welcome, everyone, show me the money. new york governor cuomo meeting as we speak with house speaker boehner pushing for $42 billion in federal aid after super storm sandy but will the residents see it in the "wall street journal" reporter says if katrina is an example, don't count on it. of $142 billion in federal aid headed for that, only $40 billion made it directly to victims from fema. that is incredible. not right. >>guest: it is not right. when i saw that, cuomo is coming to washington, and you showed the capitol you should have dollar bills coming out of the window because when the governors come to washington they want money with their palms up. that is what governor cuomo wants. he wants the federal government to write a big check to the state. we found with katrina, of the $140 billion, according to independent government auditors, there was rampant corruption and fraud and no bid contracts that went to cronies and we estimate that somewhere between 20 percent to 25 percent to 30 percent of the money was wasted on fraudulent contracts. it did
, a sign of a new era for banks? >> walmart is once again the target of a "new york times" investigation. but does the paper add anything new and can the stock outperform just as it did last time. >> private equity firm server said it will sell the firearms conglomerate. is private equity talking about guns in the country. >> futures moving higher on optimism. the white house republicans rising above partisanship, getting closer to striking a deal on the fiscal cliff. we have the latest on not just the breakdown of this offer, but by the response of some key senators this morning. good morning. >> yeah, that's right, carl. we saw the offer come in late last night and now we're seeing reaction early this morning. let me walk you through first of all of what the president laid down on the table yesterday, starting with taxes. the president is proposing now $1.2 trillion in new revenue increases, tax increases on individual income. that's lower than his initial offer after the election of 1.6 and revised of 1.4. so he's coming down on that. now he would like to extend the bush tax cuts for
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